Man Industries receives orders worth ₹490 crore for supply of pipes, shares rise

The firm said it expects to execute these orders in the next six to eight months. Shares of Man Industries (India) rose up to 2.1% intraday before closing with 0.5% gains on Wednesday.

Man Industries (India) on Tuesday reported a 19.1% year-on-year (YoY) decline in its net profit for the fourth quarter of the fiscal year 2024 at ₹24.1 crore. The total consolidated income for the quarter came in higher by 35.5% at ₹825 crore.

The company’s earnings before interest, tax, depreciation, and amortisation (EBITDA) grew by 40% to ₹72.7 crore during the quarter. EBITDA margin in Q4 expanded by 29 basis points (bps) YoY to 8.97%. The net profit margin for the quarter contracted by 202 bps YoY to 2.97%.

For the financial year ending on March 31, 2024, Man Industries saw its net profit rise by 56.9% YoY to ₹105.1 crore. The total consolidated income during the quarter grew 40.7% YoY to ₹3,194 crore. The company’s EBITDA rose 66.6% YoY to ₹293.2 crore with EBITDA margin expanding by 135 bps YoY to 9.33%. The net profit margin for the financial year grew by 34 bps YoY to 3.34%.

The company’s earnings per share (EPS) saw a rise of 49.8% in FY24 to ₹16.73.

Nikhil Mansukhani, managing director at MAN Industries (India) said on the operation front, the firm recently announced an additional order of ₹505 crore to be concluded in the next six months. “From the beginning of the calendar year 2024, we have secured a total order book of ₹1,480 crore. We envisage a strong order book for coming quarters and are hopeful for a stronger performance going forward,” he said.

Shares of the company have risen by nearly 24% since the beginning of the year. The stock has gained over 168% in the last one year.